Nigeria’s president signs a budget, including funds for yachts and bulletproof cars. Despite considerable criticism from residents experiencing a crisis in living standards, Nigerian President Bola Tinubu has signed into law a $2.8 billion supplemental budget that includes funds for new armored automobiles for himself and his wife.
Legislators passed the budget on November 2. It also contains funds for the president’s home quarter repairs, official cars for the first lady’s office, and a presidential boat.
Tinubu first presented the expenditure proposal for “urgent issues,” including security and defense. The presidency justified the yacht’s provision, which described it as an operating navy vessel equipped with specialized security devices.
However, funding for what are considered luxury products and the president’s home quarter upgrades has eclipsed the particular allotment for these regions.
The budget’s detractors contend that the expenditure is needless and insensitive to many Nigerians fighting to make ends meet in the face of soaring inflation and dire economic conditions.
The most populous country in Africa is struggling with double-digit inflation, a depreciating naira, foreign exchange shortages, pervasive insecurity, and crude oil theft.
Unions have pressured Tinubu, who took office in May, to assist workers and their homes. He has urged Nigerians to wait patiently for the changes.